What are typical minimum coverages on a COI?

What are typical minimum coverages on a COI?

• A. $50,000 cargo; $250,000 liability
• B. $200,000 cargo; $2,000,000 liability
• C. $100,000 cargo; $1,000,000 liability
• D. $500,000 cargo; $5,000,000 liability

Answer: (C)

COI protection keeps both the shipment and your operation covered. The cargo amount shows the value of goods in transit that’s insured against loss or damage, while the liability amount covers claims for bodily injury or property damage you might cause while hauling. For most trucking arrangements, the standard minimums are $100,000 of cargo coverage and $1,000,000 of liability coverage. This baseline provides solid protection without making premiums prohibitive. The other options either don’t meet this common baseline (too little cargo or liability) or go well beyond it (higher coverage), but they would still be acceptable if a contract requires more. So, the typical minimums are the $100,000 cargo and $1,000,000 liability.

COI protection keeps both the shipment and your operation covered. The cargo amount shows the value of goods in transit that’s insured against loss or damage, while the liability amount covers claims for bodily injury or property damage you might cause while hauling. For most trucking arrangements, the standard minimums are $100,000 of cargo coverage and $1,000,000 of liability coverage. This baseline provides solid protection without making premiums prohibitive. The other options either don’t meet this common baseline (too little cargo or liability) or go well beyond it (higher coverage), but they would still be acceptable if a contract requires more. So, the typical minimums are the $100,000 cargo and $1,000,000 liability.